to freight billions and subsidies and loosening regulation, we'll get more of this from brussels also coming up, a recent report stays, walt trade is back to prepare them levels. but a good chunk of the cargo is stuck at sea will tell you why. and we'll go to china where a winter olympic induced sports industry is taking millions of new skiers, downslope that normally wouldn't even have any snow. i'm chris kolber. welcome to the program. it is a major announcement from the you to supercharge computer chip production, the so called chips act announced earlier today by the european commission, foresees over 40000000000 euros and subsidies for the industry and for much faster expansion of production than previously plant the goal to prevent supply chain problems that have played businesses in many industries. for months. yes, china and south korea have invested millions in their countries. semiconductor infrastructure. now that you wanted to follow suit for more,

here's our brussels correspondent, badly get europe should be the home of the next industrial revolution. said the president of the u commission. osalla found a line to day in brussels. she presented an ambitious plan to spend 43000000000 years over the next 8 years to boost the semiconductor industry. in europe, she wants a market share of 20 percent and not only 10 percent globally for europe. to day europe is leading in the production of the machinery that is printing the semiconductors. but europe also has to have the end production of the semiconductors in europe. this is the aim of the u commission, and the commission is also aiming to gain more independence from suppliers in asia, especially china. but to have the whole supply chain in europe can be a costly endeavor, wants some experts, it could just be cheaper and remain cheaper to produce in china. and another

chip news, the $66000000000.00 take over. so really that my good mazama dw is banned legal reporting from brussels there. and another chip news, the $66000000000.00 deal to take over the chip designer arm by the industry giant and video has fallen through reportedly due to resistance from competitors and competition. regulators arms owner, soft bank is now planning, and i p. o of the chip maker instead. chips based on our architecture are in almost all smartphones, regulators feared and video could have used arm to unfairly dominate the market. all right, let's talk trade and global trade is rebounding. that's the good news, according to germany, is kill institute for the world economy. volumes have now even surpassed levels

seen before. the corona virus pandemic world trade rows 2.4 percent in january compared with the previous month, which is higher than pre crisis levels. most of the increase is coming from western countries like germany and the united states. at the same time, 11 percent of all goods shipped worldwide are currently stuck in traffic jams for a closer look at the story. let's bring in vincent stammer. he's an economist at the keel institute for the world economy. good to have you on the program, vincent, what are the main reasons for this carnival being stuck? well that actually a lot of reasons for, for the traffic jams, you know, it sounds like a contradiction that we have a lot of trade and disruptions and the content shipping network at the same time. but it's actually the huge demand for physical goods and orders that replaced in

$21.00 at that and now being delivered. this creates a huge demand for us, for the transportation capacity. and the capacity just cannot cope the supply of buttons. the paste network cannot cope with huge demand still. and then there also are some small disruptions at the port where the on the con wave led to a workers missing shifts. and this leads to, to ingestion worldwide, all their short term solutions to this problem or do we just have to wait it out? and actually the only long term solution is like investments in, in the infrastructure in the short term. we can only hope that the american wave subsides without further noise, and that especially china is bared from from the army can base an addition to that, that the consumers worldwide rotate their consumption back from physical goods to services such as travel. this would ease up some of the constraints on the

container shipping network. now you mentioned china there, which is obviously a massive player when it comes to world trade is smooth, uninterrupted, world trade even possible. as long as china sticks to its no cove, its strategy, which does imply that there will be factory closers. there will be port closures. at the very least, it's very unlikely. i'm not religious. i cannot comment on the pandemic situation in china. but if china ranked to outbreaks of the wrong number, i was, for example, in the army wave with it's the recovered strategy. as you said, it's part close with might be individual. so this will continue to cause to disruptions. and so we must be some sort of chain policy change there in order to guarantee smooth transaction and the future when to summer of the keel institute for the world economy. thank you for talking to us and now to some of the other

global business stories making headlines around the world and israeli newspaper ledges that police in the country use software to spy on the son of former prime minister benjamin netanyahu, spyware named pegasus, comes from an israeli company and his own group, which is mired in controversy after its spyware was previously linked to ease dropping. social media giant meta warns it could shut down facebook and instagram in europe if it's forced to overhaul its data privacy practices and stop transferring user data to the united states. the dispute is part of the e was broader regulatory crackdown on big tech companies. you as low cost carriers, frontier airlines and spirit airlines have agreed to merge the deal valued at $6600000000.00 will create the nation's 5th largest carrier. the 2 airlines to say they are expecting annual consumer savings and are looking to expand services with more than $350.00 aircraft on order. b,

p returned to profits last year, looking 6700000000 euros. as oil and gas prices searched it was a strong year for the british energy giant following a huge loss. your prior aside from profits, the company also announced plans to accelerate its target to reduce operational carbon emissions. let's turn to australia now and for almost 2 years, it's been almost impossible to get into the country amid the corona virus pandemic, australia initially closed its borders even to its own citizens, then opened up only gradually to some visitors with visa and proof of vaccination. now, australia wants to welcome all travellers again, as long as they meet the requirements. the news was delivered by the prime minister himself, the strider will reopen out bout as borders to all remaining visa holders on the

21st of february of this year. of course, strict vaccination rules still apply. if you double vaccinated, we look forward to welcome you back to australia and i know the tourism industry will be looking forward to that. and over the next 2 weeks, as i will have the opportunity, both the visitors to be coming and for them to be gearing up to welcome international visitors back to a stride you. prior to the pandemic, the tourism industry generated around $85000000.00 u. s. dollars in annual revenue and employed about 5 percent of the australian workforce, or least some of those jobs have come back. many restaurants and bars remain closed even though australia started well coming. visitors from singapore last november. and then japan and south korea a month later. it was high time for the rest of the world to come back. almost all the thought of the country is open, therefore it is like not us radio, but it. so it was really difficult and you know, so many people went to depression because they had got a lot of plans. and i,

so now i'm really happy that it's got my son has made that announcement yet. menus trillions. now hope that their streets will see some crowds again, after all, many businesses count unhappy travellers and at deep pockets barely 25 years ago, china had just 9 ski resorts, according to official data, but fast forward to today, they are now close to $800.00 of them spread mainly across the country's northern regions and with the beijing winter olympics in full swing, a booming news sports industry is taking skiers down slopes, which normally wouldn't even have any snow fabia and catch my reports. one of the big game changers for skiers from badging is this brand new bullet train link from the capitol to chung the and her bay province. if you was there for have a, it took the letter 3 hours for 4 hours, but you took the trans only take like go hours strongly is hosting most snow sports

during the 2022 winter games and just a short ride from the station is tied to a ski resort designed by canadian planets, echosign featuring 30 slopes and surrounding an alpine style village. it open and 2015 shortly after bating one the right to host the games. i re, i think people are really, really excited to have this and that coming over by in terms of like down and entities from lake lake and the whole area now and, and of building i think it's quite caught my eye, but amid lingering fears of an alma crohn outbreak tight measures and place that will dampen the economic benefit of the olympics, projected to cost $1560000000.00 and operational spending. the event will neither boost domestic consumption nor trevor. and since no tickets are sold to the public, an estimated $120000000.00 in revenue won't be generated. title won't host any of

the lumpy competitions, but it will provide accommodation to some of the 10s of thousands of visitors coming to the games. it's operators are hoping to cash in on long term growth and snow sports. it seems like a safe bet. official industry figures show the number of skiers in china rose to just under 21000000 and 2019. that's over a 1000000 more than the year before, but there is one downside. despite the very beautiful mountain scenery and the state of the art facilities at the region has really one major problem. there's almost no natural snow. the region averages about 20 centimeters of snow fall annually. the results are heavily reliant on snow making machines to give people the powder they need for quality skiing experience. but people here are adopting to that and the modest peaks. many visitors a snowboard series is law, young people started snowboarding. thing is more cool. and 2nd,

we don't have very high altitude here. so maybe more mobile friendly. regardless the infrastructure that's under development, coupled with china's ambition for metals in 2022 and beyond. mean the future of snow sports yet looks right. and his reminder of our top story at this hour. it's a major announcement today from the you to supercharge computer chip production, the so called chips act being unveiled today by the european commission. it is expected to direct over 40000000000 euros and subsidies to the industry. the block wants to co drupal chipped production in the coming 8 years that social thanks for watching with ah, with

a pulse with the beginning of a story that moves us and takes us along for the ride. it's all about to perspective culture information. this is d w. news and more. d, w. made from mines. oh oh.

we've got some hot tips for your bucket list. ah romantic corner tread hotspot for food and some great cultural memorials to boot d w, travel off we go. sometimes a seed is all you need to allow big ideas to grow. we're bringing environmental conservation to life with learning pass like global ideas. we will show you how climate change and environmental conservation is taking shape around the world and how we can all make a difference. knowledge grows through sharing, download it now for free. hello guys. this is the 77 percent the platform with issues and share idea. you know all these channels,

we are not afraid to talk to any kids. young people clearly have the solution. good future, you know, 277 percent now every weekend on d w ah, ah, this is dw with why, but from berlin, a diplomatic frenzy to avoid war on europe's eastern border, french president and my new on marque, ron holds, crisis talks with you, premium president, followed him years lensky in chia.